Tips for Parents with Kids and Teens

Building awareness

Our Two Cents

If your kids are having trouble tracking their money, encourage them to use our Spending Tracker to record spending on a daily basis.

Kids need to experience having and controlling money of their own before they can really learn to value it. Giving them an allowance is a good first step. As kids get older, they'll have other ways to earn money, such as a part-time job.

Whatever the source, the important thing is to let kids make their own spending decisions—and their own mistakes—while the stakes are low.

Creating good spending habits

Discuss spending habits and decisions with your kids. Help them see what they're spending their money on: fast food? video games? music downloads? school supplies? Here are some questions to ask:

The information on this website is for educational purposes only. It is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner, or investment manager.

The Charles Schwab Foundation is a 501(c)(3) nonprofit, private foundation that is not part of Charles Schwab & Co., Inc. or its parent company, The Charles Schwab Corporation.